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and japanese? why do the indians? why do other countries want to build their plants in the united states? i say, because we're at a better cost advantage. we can't beat china and a few others yet. but ironically, the weaker dollar will help us long term. >> steve, i've left you until last. what should we make of what's going on. not for getting employment is above 10%, despite the bullish activity on the stock market. >> a weak dollar means a weak economy. we should have learned that from the 1970's. it's a job killer as well in terms of denying businesses access to capital, they speculate in commodities and currencies instead of investing in businesses. that's why you get some overseas investment, overall the for reign capital the weak dollar is poison. it introduces too muchen certainty. in terms of exports by artificially lowering the price of your exports you more than make up with the disastrous distortions you get in the domestic economy. so in the 1970s we'll have rallies. when a rotten decade it was. ronald reagan strengthened the dollar and we had a good run in the 1980s. >> simply off
publisher yourself. the post says it's closing the last domestic bureaus it has in the united states. the bureaus are new york, los angeles and chicago. they say the bureaus will be closed at the end of the year. the editor is mosquito kwoeted as saying the basic fact is we can recovery the rest of the country from washington. as which i remember and editor in chief of u.s. news and world report, publisher of the "new york daily news," how would you greet that news? >> let me put it this way. i've been telling everybody that the print publishing business is s an oxymoron. it's sumpbing from the loss of advertising. when you're in that kind of position and you can't manufacture the revenue, you've got to cut costs. it doesn't mean the bureaus aren't valuable. but when you have no choice but to reduce cost somewhere, this is probably the decision we made. we can afford or better afford to reduce our bureaus. u.s. news used to have five overseas, 11 overseas bureaus depending on where it was, when it was. the real driver is you have to cut costs. look at the losses "the washington post"
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